Continental Currency dollar coin
The Continental Currency dollar coin (also known as Continental dollar coin, Fugio dollar, or Franklin dollar) was the first pattern coin struck for the United States.[1][2] The coins were minted in 1776 and examples were made on pewter, brass, and silver planchets.[3]
United States | |
Value | 1 Continental dollar (not specified on coin) |
---|---|
Mass | 15–19 g |
Diameter | ≈38 mm |
Thickness | 6 mm |
Composition | Pewter, brass, or silver |
Years of minting | 1776 |
Obverse | |
![]() | |
Design | "Mind Your Business", Sun, and sundial, surrounded by "Continental Currency" (misspelled on some varieties) and date |
Designer | Benjamin Franklin |
Design date | 1776 |
Reverse | |
![]() | |
Design | "We Are One", 13 state chain links |
Designer | Benjamin Franklin |
Design date | 1776 |
History
The United States started issuing its own banknotes in 1776 after the start of the American Revolutionary War, denominated in Continental Currency. While no legislation authorizing a dollar coin has been discovered, but no resolutions from July 22, 1776 through September 26, 1778 mentioned the one-dollar banknote, suggesting that it was to have been replaced by a coin.[4]
Benjamin Franklin designed both sides of the coin.[2] The obverse features the sun shining on a sundial, the Latin motto "Fugio" (I flee/fly), and "Mind your business", a rebus meaning "time flies, so mind your business".[1] The reverse features 13 chain links representing a plea for the Thirteen Colonies to remain united.[1]
Production
Elisha Gallaudet engraved the coin dies, according to numismatist Eric P. Newman.[5] An estimated 6,000 coins were minted, probably in New York.[6]
Today, about a hundred dollars survive, struck in pewter.[3] Historians surmise that much of the original mintage was melted due to wartime demand for the alloy.[4] Only a few silver examples are known to exist. This composition was most likely standard for circulation. However, the idea of a silver dollar might have been scrapped, as the United States had no reliable supply of silver during the war.[4] Several brass trial strikings are also known.[7]
Varieties
As with other early United States coinage, the dies for the Continental dollar coin were hand-punched, meaning no two dies were the same. One of the known obverse varieties was accidentally made with "CURRENCY" misspelled "CURENCY".[3]
Another variety, known as the "Ornamented Date", was also made with a misspelled "CURRENCY", this time as "CURRENCEY". The blundered die was corrected by punching a "Y" over the "E" and an ornamental figure was engraved over the original "Y".[8]
Later use of the design
![](../I/m/2006_Benjamin_Franklin_Founding_Father_Silver_Dollar_(Reverse).png)
An adaption of the Continental Currency dollar coin appears on the reverse of the "Founding Father" variety of the 2006 Benjamin Franklin silver dollar.[9]
References
- "NMAH | Legendary Coins & Currency: Pewter Continental Dollar, 1776". amhistory.si.edu. Archived from the original on 2018-11-03. Retrieved 2019-06-18.
- "Continental Currency - PCGS CoinFacts". PCGS. Archived from the original on 2019-06-16. Retrieved 2019-06-18.
- "1776 $1 CURENCY, Pewter (Regular Strike) Proposed National Issues - PCGS CoinFacts". PCGS. Archived from the original on 2019-06-16. Retrieved 2019-06-16.
- "1776 $1 Continental Dollar, CURRENCY, Silver, EG FECIT MS63 | Lot #30423". Heritage Auctions. Archived from the original on 2019-06-16. Retrieved 2019-06-16.
- "Eric P. Newman's silver 1776 Continental Currency dollar sells for $1.41 million". CoinWorld. Archived from the original on 2019-06-24. Retrieved 2019-06-24.
- "The Continental "Dollar" - Introduction". coins.nd.edu. Archived from the original on 2019-06-24. Retrieved 2019-06-24.
- "1776 $1 CURENCY, Brass (Regular Strike) Proposed National Issues - PCGS CoinFacts". PCGS. Archived from the original on 2019-06-16. Retrieved 2019-06-18.
- "1776 $1 Ornament after Date (Regular Strike) Proposed National Issues - PCGS CoinFacts". PCGS. Archived from the original on 2019-06-16. Retrieved 2019-06-17.
- "Benjamin Franklin "Founding Father" $1 Coin | U.S. Mint". www.usmint.gov. Retrieved 2019-08-29.